When generating reports of financial data, it is critical that financial data included in the reports is up-to-date. Financial reporting applications (e.g., applications responsible for generating the reports) typically collect, utilize, reference, and/or store financial data, which is then utilized in generating financial reports.
The financial data is retrieved by the financial reporting applications from one or more electronic files. These files are often stored in a variety of different formats and on different servers of different server types. While these files are typically updated on a regular basis, the frequency of updating each file is highly variable and potentially inconsistent with one another. As such, the financial data utilized for generating financial reports may not be consistently up-to-date.
Therefore, because it is indeed critical that financial reports are generated with up-to-date financial data, a need exists for a system that facilitates scheduled updating of financial data held in multiple files of different formats and stored in various storage locations across an Enterprise Performance Management (EPM) platform.